Berlin: German air taxi startup Volocopter is looking to start its first air taxi service with its new round of funding which raised $170 million from new investors backing from South Korea, WP Investment, and strategic investor Honeywell.

The aviation startup has been advancing its electric vertical takeoff and landing (VTOL) aircraft as well as a business model to operate these battery-powered flying taxis in urban cities such as Rome, Singapore and Paris.

Depending on when it obtains the required certification, the commercial launch could be in 2024.

Previous backers of the company include Atlantia, Whysol, btov Partners, Geely, Mercedes-Benz Group, Intel Capital and BlackRock amongst other unnamed investors.

Volocopter made waves in 2017 in the autonomous vehicle industry, when it premiered its autonomous flying car test in Dubai, supported by Intel.
-TechCrunch, Reuters